Hargreaves Lansdown says it is focussing on “cost control and investment discipline” for the rest of the year after releasing its results for the quarter ended 30 September.
A trading update on the London Stock Exchange this morning (17 October) confirmed the firm brought in net new business of £700m for its first quarter, closing assets under administration (AUA) of £122.7bn. Hargreaves' statement said the AUA figure "reflects adverse market movement" of £1.8bn between July and September with "negative performance in September offsetting July's positive movement". Revenue for the three months was £162.9m, representing a 15% increase which the firm said was driven by higher revenue on cash and "offsets the reduction in share dealing volumes" as well as th...
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